USBA Life Insurance Logo USBA Blog
   



Home
Administration

RSS Icon

Top User Comments

john pettibone (0)
jack life (0)
jack life (0)
CarsGuide (0)
CarsGuide (0)

Latest User Comments

sudoku online (0)
Anonymous (0)
Benon (0)
jack (0)
jack (0)

Top Comment Activity

Tips for military family travel (5)
How to avoid paying state income tax on your military retirement pay (2)
Purple Up! for U.S. military children (2)

Top Focused Entries

Purple Up! for U.S. military children (125)
Tips for military family travel (93)
How to avoid paying state income tax on your military retirement pay (41)
GI Bill® Comparison Tool makes college planning easier (8)

Top Scored Entries

Purple Up! for U.S. military children (0)
Tips for military family travel (0)
How to avoid paying state income tax on your military retirement pay (0)
GI Bill® Comparison Tool makes college planning easier (0)

Latest Entries

GI Bill® Comparison Tool makes college planning easier
How to avoid paying state income tax on your military retirement pay
Tips for military family travel
Purple Up! for U.S. military children

Archived Entries

Thousands of disabled military veterans due special tax refunds (0)
USBA Military Families: $2,000 scholarship applications available (0)
Life insurance: A unique Valentine’s Gift (0)
USBA: Life insurance for military veterans and federal employees (0)
Help for military transitioners in 2018 (0)
Why now is a good time to review your military life insurance (0)
How military families handle the holidays (0)
Paying tribute to our fallen military heroes this holiday season (0)
What makes Veterans Day different from Memorial Day? (0)
Attention USBA Members in California, Texas, Florida, Georgia, Puerto Rico & the US Virgin Islands (0)
National Day of the Deployed is October 26th (0)
Getting help for homeless veterans (0)
Tips for tackling military spouse joblessness (0)
Want to Win a Free Gift Card for being a Social Media Guru? (0)
Win a Free Gift Card for Posting to USBA (0)
Insurance information for transitioning military members (0)
Where to get help getting veterans benefits (0)
Military Caregivers: A different kind of hero (0)
Moving season is here for the military (0)
Advanced technology helps identify military remains (0)
Plans for new veterans memorial making progress (0)
DoD retirement calculator now available (0)
Veterans Choice Improvement Act signed into law (0)
National Military Spouse Appreciation Day 2017 is May 12th (0)
Changes coming to the U.S. military commissary near you (0)
April salutes our country’s military kids (0)
Free resources for at-risk military veterans (0)
$2,000 scholarship available to USBA families–Apply by March 31st (0)
Portable USBA Insurance for U.S. Military and Federal Employees (0)
How the New U.S. Military Retirement System Affects You (0)
Do you know when your SGLI ends? (0)
Get help finding your next job—in and out of the military (0)
Free tickets for military members, veterans and their families (0)
Free resources for military-to-civilian job seekers (0)
Veterans, did you know sitting is the new smoking? (0)
Remembering Veterans One Wreath at a Time (0)
Holiday gifts for deployed military members (0)
How Tootsie Rolls saved military lives during the Korean War (0)
USO supports transitioning service members and their families (0)
Medical and travel emergency assistance for USBA members (0)
If you’re considering VGLI, read this first. (0)
Need help selecting life insurance? (0)
What military service members and Danica Patrick have in common (0)
Military veterans get help with PTSD from rescued wolves (0)
Benefits you may not know about for Veterans (0)
Iraq and Afghan Vets: This may apply to you (0)
DoD SkillBridge: Opening the doors to civilian jobs for transitioning military (0)
Military families visit national parks for free (0)
Honoring America’s Heroes-Memorial Day 2016 Recap (0)
Honoring the memory of our military veterans (0)
What’s the difference between term and whole life insurance? (0)
Beware of phishing scams targeting veterans (0)
A salute to all our military kids (0)
Calling all artists–enter the 2016 Veterans Day Poster contest (0)
New Deadlines! Tax time is just around the corner (0)
Protect your right to transfer your GI Bill with current benefits (0)
Military bases no longer accept driver’s licenses from 5 states (0)
Free assistance for job-seeking military transitioners (0)
Use military discounts to save on lift tickets, lodging and more (0)
Keep your life insurance beneficiary current (0)
Meaningful gifts for those serving in the military (0)
How to expand your civilian job opportunities with a master’s degree (0)
Veterans Day is November 11th (0)
Transitioning? Don’t forget life insurance (0)
Resources to help veterans address transition-related issues (0)
Transitioning Military Members: Get $5,000 no-cost AD&D insurance (0)
Transitioning veterans fly free to job interviews (0)
Review your life insurance using this 6-point checklist (0)
Why military personnel need to understand their credit scores (0)
You’ve earned your VA benefits—now use them (0)
Important DD 214 information for military veterans (0)
Military families get FREE annual pass to national parks (0)
Military Smokers: Get help quitting (0)
FREE white paper helps military transitioners in job search (0)
May is the 16th annual Military Appreciation Month (0)
Why now is the time to buy a home with a VA Loan (0)
Military Children Serve, Too! (0)
College scholarship exclusively for USBA families--Deadline is March 31st (0)
Veterans & Active Military: Get free help preparing your taxes (0)
Learn from veterans who’ve already transitioned (0)
What do life insurance and February 14th have in common? (0)
Free resources for military-to-civilian job seekers (0)
US Military Members: Are SGLI and VGLI enough? (0)
Transitioning? Active duty service members get extension to access MilConnect (0)
Share your holiday spirit with deployed US Military (0)
Leaving the military? Get 5 tips for job interviewing (0)
Thanking our military veterans this month (0)
Honoring deployed service members and their families (0)
Leaving the military? Make sure you meet MEC or it could cost you (0)
Get military discounts on consumer goods, tactical gear, sports events and more (0)
Who Do You Protect? Show us and you could win $500 (0)
2014 USBA scholarship winners head to college (0)
Life Insurance for Military: Which of these apply to you? (0)
Who is eligible for USBA membership? (0)
5 tips for transitioning military who want to be entrepreneurs (0)
Vacation deals and discounts for military families (0)
Do you know when your SGLI ends? (0)
Military cuts ahead. USBA stands ready to help you. (0)
Unique life insurance protects two lives with one premium payment (0)
Important Announcement – Heart Bleed Virus (0)
April is Month of the Military Child (0)
Two kinds of insurance for military families (0)
PTSD isn’t a battle you want to fight alone (0)
Transitioning Out of Military? Here’s a throwback from Korea and Vietnam (0)
Getting ready to enter the civilian job market? (0)
2014 New Year’s Resolution: Find out if you have enough life insurance (0)
$2,000 college scholarship exclusively for USBA families (0)
Heading back-to-school after transitioning in 2014? (0)
Military vacation deals for the holidays (0)
Did you know USBA’s gone mobile? (0)
How are you observing Veterans Day 2013? (0)
Honoring those deployed and their families (0)
What recent changes in TRICARE mean (0)
Honoring Our Country’s Gold Star Mothers and Families September 29 (0)
Transitioners: Get help figuring the civilian salary equivalent to your military pay (0)
Did you know? (0)
Planning ahead helps your family later (0)
Need help paying for college for your child or spouse? (0)
Transitioning soon? Start your civilian job search here. (0)
Dreaming of a Disney Vacation? Special Summer Discount for Military Families (0)
What makes USBA different? (0)
Celebrate Memorial Day with USBA (0)
Planning a vacation? Check out the Armed Forces Recreation Centers (0)
How to know if you have enough life insurance (0)
April is “Month of the Military Child” (0)
Is long-term care insurance right for you? (0)
Why spouses need life insurance too (0)
If travel is on your radar, read this: (0)
Jumpstart your 2012 taxes in February (0)
January is a good time to finally ... (0)
Are you retiring or transitioning in 2013? (0)
Last-minute Gift Ideas (0)
"Military Child of the Year" nominations due December 15th (0)
Why New York Life Insurance Company? (0)
Veterans Day Facts that May Surprise You ... Including Freebies (0)
10 FREE Resources for Transitioning Veterans (0)
What Happens Next? (0)
What’s important about September? (0)
Transitioning? Use this Planning Checklist (0)
Leaving the military within next 18 months? (0)
Need help selecting life insurance? (0)
What makes Uniformed Services Benefit Association (USBA) different? (0)
Is “Enough” Really Enough? (0)
Members Share “Power of One” Benefits (0)
Before You Skip a Premium... (0)
Group Gives Life to Dying Ritual (0)
“Invisible Warriors” (0)
Need to Pay Your Premium? (0)
Leaving the Military: Sign up today for $5,000 No-Cost AD&D! (0)
How USBA Life Insurance Claims Are Paid (0)
USBA Debuts Long Term 20SM Year Group Life Insurance Plan (0)
Solid Financial Ratings Mean Solid Insurance Plans For You (0)


 

0 comments so far. Scroll down to view.

Monday 5/9/16 (744 days ago)

What’s the difference between term and whole life insurance?

Posted by nli under News at 5:19:12 PM
Score: 0 | Comments (0) | Make Comment | Demote (0) | Promote (0) | Focused: 719 | Permalink | Digg It

Do you know the difference between term and whole (also called permanent) life insurance?USBA Whole Life vs. Term Life Insurance Comparison Here’s a simple explanation to help you make future decisions for financially protecting your family.

For starters, your Servicemembers Group Life Insurance (SGLI) is term life insurance that’s automatically issued to all eligible members of the Uniformed Services. Transitioning military members who are covered receive 120 days of SGLI term coverage from their date of separation. 

If you are preparing to transition, you may wonder whether you should buy term or whole life insurance to replace your SGLI when it runs out. Here’s the difference.

Term insurance is pure protection; it doesn’t build cash value. As a result, it’s a fairly low-cost option for buying larger amounts of insurance at younger ages. Generally, either the cost increases or protection decreases as you age, when the risk of death is greater. At a predetermined age such as 65 or 80, coverage usually ends.

With term life insurance, you pay premiums for a specified term (ex. 15 years) and receive insurance protection for that time. Depending on your plan, at the end of the term you may have to re-qualify for coverage or renew at a higher rate if you want to continue your protection. If your health has changed, you may not be able to qualify or you may have to pay a higher rate. USBA’s Long Term 20 and Smart & Lean 15 plans are examples of term coverage

Whole life insurance costs more than term, but builds cash value that grows tax-deferred. This cash value can be used in a variety of ways. For example, you can surrender the policy for its cash value, take loans against it, or use it to purchase paid-up insurance. You can keep whole life insurance for the rest of your life—even if your health changes—as long as you pay the premium. The premium and death benefit generally stay the same while you own the coverage.

Whole life coverage can be a good option for those who may not need a large amount of protection, but want guarantees that premiums won’t go up and coverage won’t end. USBA’s Fifty Plus Whole Life plan is an example of whole life insurance.

Whether you decide to buy term or whole coverage, don’t leave your family unprotected after you transition. For a free consultation about what will work best for you and your family, call 1-800-368-7021 or contact us online.


Leave Comment (0)   


0 comments.

No comments yet. Be the first to make one!

Make New Comment

 
Name: (leave blank for anonymous)
Website: (will be linked to your username)
E-mail: (will not be published)

Your e-mail address will be used to send you voting and comment activity. Inclusion of your address is optional but Battle Blog cannot notify you of these activities unless you supply an accurate e-mail.
Comment:

You have characters left to make your point.
 
Receive notification of future comments in this thread.
Remember my information for future posts at this site.
 
Security Image Checkpoint
 
Type the word you see in the image above.

 
 


Home


Powered by Battle Blog